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Oct 7, 2024 • 4 min read

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Uber TOS legal Dispute
UAE Eliminates Crypto Tax

Uber TOS legal Dispute:

A New Jersey court recently ruled that a couple injured in a 2022 Uber accident cannot sue the company due to an arbitration agreement embedded in the terms of service they had accepted through Uber Eats. John and Georgia McGinty, who sustained serious injuries in the accident, sought to hold Uber accountable for damages, but Uber pointed to its terms of service. The court found that Georgia had agreed to the company’s terms multiple times, which included an arbitration clause.
This clause requires that any disputes, including those involving auto accidents or personal injuries, be settled through arbitration—a private legal process where a neutral third party resolves disputes, typically outside of court. The couple argued that it was their daughter who accepted the terms while placing a food order on Georgia’s phone. However, the court ruled that since the account was in Georgia’s name, the agreement was valid. This decision emphasizes how terms agreed to in one service, such as ordering food, can have legal consequences in other areas, like a rideshare accident.
In this case, it prevents the couple from taking their case to court and forces them into arbitration. The situation highlights the importance of fully understanding the scope of terms of service agreements. These agreements often contain provisions, like arbitration clauses, that users might not realize can limit their legal rights in various situations. Many users agree to these terms without knowing they can affect much more than just the immediate service being used.

UAE Eliminates Crypto Tax:

The United Arab Emirates (UAE) has officially abolished taxes on all cryptocurrency transactions, a strategic move aimed at positioning the country as a global hub for crypto investors and businesses. As of October 2024, transactions involving the trading, transfer, and conversion of cryptocurrencies are exempt from the country’s Value-Added Tax (VAT). This tax exemption is applied retroactively to January 1, 2018, allowing businesses and investors to potentially reclaim VAT they had previously paid on these transactions.
This creates a highly attractive financial environment for companies dealing in digital assets. The decision is part of the UAE’s broader ambition to establish itself as a leader in the cryptocurrency and blockchain sectors. By offering a tax-free regime for crypto transactions, the UAE is expected to draw significant attention from global investors, crypto startups, and blockchain-based companies. This could lead to a surge in innovation and investment in the region’s blockchain and digital asset sectors, reinforcing the UAE’s status as a progressive market for financial technology.
Moreover, this move puts pressure on other countries that impose higher taxes on cryptocurrency transactions. As the UAE now offers a more favorable tax environment, companies and investors may be motivated to relocate their operations to the UAE. This could prompt other nations to reconsider and potentially adjust their tax policies on cryptocurrencies in order to remain competitive in the rapidly expanding global digital asset market.

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